Hamilton's E-Wave Analysis

MDI, update and correction!

mdi may 16 2012

Our previous comments were somewhat confusing. This is the count we will go for for the moment. The first real resistance is at $4. How it will get there is anyone’s guess but it will be fast judging by previous moves. Drillers are, in a sense, a derivative of the oil producers. When they make money they hire the drillers, when they don’t make money they do not even know their name, the swings can be huge.